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what are the global implications, if, in fact, we do go over the fiscal cliff? >> very bad if it happens. everyone hopes it doesn't. i mean i think right now you would expect people to be flatly rejecting the other side's proposal. i mean, there's going to be -- >> 29 days? >> it's going to be a really tough negotiation. the expectation, by the way, in the world is that you will sort it out. and if you do, i think the american economy, i would be probably more optimistic about the american economy right now than certainly any part of the rest of the western world. so if you can get this sorted out, you can really move forward, and therefore, i think now that your elections are out of the way, i'm just speaking as an outsider, now your election is out of the way, there's going to be all this bargaining and positions, but my expectations, i hope, and the desire of the world, is sorted out, and we can move on, and then sort our own problems out. >> for those of us in the united states, we see sort of what seems to be two intractable issues. republicans saying we wi
what are the global implications, if, in fact, we do go over the fiscal cliff? >> very bad if it happens. everyone hopes it doesn't. i mean i think right now you would expect people to be flatly rejecting the other side's proposal. i mean, there's going to be -- >> 29 days? >> it's going to be a really tough negotiation. the expectation, by the way, in the world is that you will sort it out. and if you do, i think the american economy, i would be probably more optimistic about...
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cliff, negotiations are on deep freeze. from the white house's perspective, they're not going to budge until house republicans come around to the view that tax rates on the wealthiest have to go up. but you know house republicans don't want to agree to any kind of deal that includes that. so right now it's a blinking contest. of course, the white house thinks it's one they'll ultimately win, because in the new year tax rates automatically go up. >> and there could be a recession once again if we go into that fiscal cliff. how worried are officials over at the white house that the president will get a lot of blame for not showing enough leadership in forces a deal through by the end of the year? >> reporter: they take it seriously but they're not worried about the politics of it. they're confident that republicans will take the blame. you and i might not be so certain that it will only go to congress and americans will only be angry at congress. here inside the white house, they are quite confident that will be the case. wol
cliff, negotiations are on deep freeze. from the white house's perspective, they're not going to budge until house republicans come around to the view that tax rates on the wealthiest have to go up. but you know house republicans don't want to agree to any kind of deal that includes that. so right now it's a blinking contest. of course, the white house thinks it's one they'll ultimately win, because in the new year tax rates automatically go up. >> and there could be a recession once...
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going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for millions more. and more on the president's plan which will pitch to governors today largely spares social security and medicare. >> tracie potts for us in washington, thank you. >>> now to the crisis in syria. new reports that the white house and its allies are weighing military options to secure syria's chemical and biological weapons. president obama and secretary of state hillary clinton both issued warnings to syria monday after intelligence picked up signs the assad regime might be making preparations of some kind with its large stockpile of chemical weapons. >> i want to make it absolutely clear to assad and those under his command the world is watching. the use of chemical weapons is and would be totally unacceptable. and if you make the tragic mistake of using these weapons, there will be consequences and you will be held accountable. >
going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for millions more. and more on the president's plan which will pitch to governors today largely spares social security and medicare. >> tracie potts for us in washington, thank you. >>> now to the crisis in syria. new reports that the white...
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the doom and gloom of the fiscal cliff hides an important point about our economy. we play our cards right, america could be headed for another economic renaissance. short-term indicators are looking good. jobs are being created, consumer debt is shrinking. the housing market is making a comeback. forget silver linings, housing has been the golden lining around the economic cloud hanging over the country. mortgage rates are expected to stay low through 2014. home affordability is as good as it it's been in generations. that's going to attract buyers who spent the last few years waiting for prices to bottom out. that's going to help millions of homeowners who currently owe more on their homes than the home is worth. the home prices rising, confidence will return. and longer term prospects also have some real hope in america. we're in the midst of a domestic energy boom that will fuel growth for years to come. advances in horizontal drilling and hydraulic fracturing, you've heard it as fracking, have changed the economics of natural gas recovery. that sent prices way
the doom and gloom of the fiscal cliff hides an important point about our economy. we play our cards right, america could be headed for another economic renaissance. short-term indicators are looking good. jobs are being created, consumer debt is shrinking. the housing market is making a comeback. forget silver linings, housing has been the golden lining around the economic cloud hanging over the country. mortgage rates are expected to stay low through 2014. home affordability is as good as it...
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nicole petallides, you know, we've got the fiscal cliff negotiations and big jobs numbers due out toward the end of the week, nicole. i wonder if investors are in kind of a wait and see mode here? >> absolutely. the jobs number is at the end of the week, right? is arguably the most important economic indicator. a lot of folks are very concerned about the economy with very moderate growth that we've seen at best. unemployment still remains really very high and so that is something that still sits on the minds of investors. i wanted to also talk about the fiscal cliff and how a lot of companies are speeding up those dividend payouts like oracle and carnival cruise and weight watchers and ethan allen just to name a few. it is easily over 110 companies have done just exactly that, accelerated the dividend payouts to be at the end of the december rather than early january. in which case you might be more susceptible to higher tax rate. these are some of the names. coach. diner shoe warehouse and larry ellison with his company. oracle's ellison has about $200 million in the payout although he
nicole petallides, you know, we've got the fiscal cliff negotiations and big jobs numbers due out toward the end of the week, nicole. i wonder if investors are in kind of a wait and see mode here? >> absolutely. the jobs number is at the end of the week, right? is arguably the most important economic indicator. a lot of folks are very concerned about the economy with very moderate growth that we've seen at best. unemployment still remains really very high and so that is something that...
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to china. >>> finally a toddler takes in cnbc's fiscal cliff talk. >> that's like young kids who say they like me saying let's play "hardball." that's going viral obviously. >>> up next, 44% of a certain group of americans tell pollsters seceding from the union might be a good idea. who are these people in half the republicans think a.c.o.r.n. which no longer exists stole the election. wait until you see these stats. it's like jay walking with jay le leno. i don't know who these people are. anyway, "hardball," the place for politics, coming up. maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. customer erin swenson bought so, i'm happy. today. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are
to china. >>> finally a toddler takes in cnbc's fiscal cliff talk. >> that's like young kids who say they like me saying let's play "hardball." that's going viral obviously. >>> up next, 44% of a certain group of americans tell pollsters seceding from the union might be a good idea. who are these people in half the republicans think a.c.o.r.n. which no longer exists stole the election. wait until you see these stats. it's like jay walking with jay le leno. i...
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from a government point of view everybody today is talking about jobs and the fiscal cliff. our recommendations in the report create 1.7 million jobs. everyone talks about taxes and what's going to happen with the fiscal cliff. in the last 10 years there's been $1,500 for every american consumer has gone to increased oil prices. $1,500. we're now talking about $2,000 take the tax cuts make a different for middle-class americans. you can get them that tax cut today if you invested in our report. and then everybody talks about entitlements. the social security administration trustees have said that high oil prices make the social security trust insolvent five years sooner than they would if you didn't have high oil prices. look, we all know what america needs. america needs jobs. america needs growth. following the recommendations in our report will lead to both of those. that's going to be good for the politicians, it's going to be good for the consumers, it's going to be good for american business. >> let me bring in the senators here to ask about -- i'll start with you, sen
from a government point of view everybody today is talking about jobs and the fiscal cliff. our recommendations in the report create 1.7 million jobs. everyone talks about taxes and what's going to happen with the fiscal cliff. in the last 10 years there's been $1,500 for every american consumer has gone to increased oil prices. $1,500. we're now talking about $2,000 take the tax cuts make a different for middle-class americans. you can get them that tax cut today if you invested in our report....
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cliff and jobs. it's live here on c-span. >> and continues to preach the kind of message that i think the nation needs, one of compromise but one of assurity that we are going to be looking out tore the interest of the middle class and the protection of social security, medicare and medicaid for the people who are in such desperate need of those great programs that are the hallmark of our country. we have repeatedly said and our caucus again just confirmed that job creation equals deficit reduction, and we must put the country back to work. we have proposals that are on the floor. we still believe that even with the -- what little time remains and what little time remains when we're actually working, this is still possible. this is still doable. this is not a democrat or republican issue. republicans believe that america needs to go back to work. it's just a matter of having the will to do it, the programs are out there. compromise can be made around the streamlining of regulations to make sure that
cliff and jobs. it's live here on c-span. >> and continues to preach the kind of message that i think the nation needs, one of compromise but one of assurity that we are going to be looking out tore the interest of the middle class and the protection of social security, medicare and medicaid for the people who are in such desperate need of those great programs that are the hallmark of our country. we have repeatedly said and our caucus again just confirmed that job creation equals deficit...
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from the government point of view, everybody is talking about jobs and the fiscal cliff. everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't
from the government point of view, everybody is talking about jobs and the fiscal cliff. everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the...
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cliff crisis at the end of this year. quote, speaker boehner's $800 billion tax hike will destroy american jobs. this is why republicans must oppose tax increases. but both senator demint and those four ousted congressmen, excuse me, i'm going to have to take a drink. i'm so sorry. and those ousted congressmen should reconsider their kris simples of speaker boehner because while his plan does not raise taxes on the rich, it does contain at least three evil spirits that will visit the working poor and the middle class for every christmas to come. first, speaker boehner says nothing about extending the payroll tax cut and that would mean at least $1,000 less in the pockets of workers next year. he wants to raise the eligibility age for medicare benefits up to 67, and this would obviously affect manual workers whose bodies are already weary by the time they reach 65. and speaker boehner wants to cut $300 billion from discretionary spending, which includes social
cliff crisis at the end of this year. quote, speaker boehner's $800 billion tax hike will destroy american jobs. this is why republicans must oppose tax increases. but both senator demint and those four ousted congressmen, excuse me, i'm going to have to take a drink. i'm so sorry. and those ousted congressmen should reconsider their kris simples of speaker boehner because while his plan does not raise taxes on the rich, it does contain at least three evil spirits that will visit the working...
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everyone is focused on the fiscal cliff. if you get a mini deal you should expect about a 3% to 5% pop in the market. >> we'll see about that. what are you watching? tell me how you prepare tomorrow. >> we have keys in our economic recovery and those are housing and jobs. we will have numbers that address those issues. it is very difficult over the next couple of weeks we are likely to have elevated volatility. longer term we are more optimistic and we still believe investors should be in stocks that have dividends. and low volatility we like these -- >> all right. jimmy, you're up. 30 seconds on the clock. give me things you want to watch tomorrow that will influence money. >> not just tomorrow but for the rest of the month i think the fiscal cliff can create a good buying opportunity for investors. last time the market reacted. i think investors need to be nimble and paying close attention to retail sales. as we are a consumer led economy and jobs are important. housing. home builder stocks have been way up. let's see what
everyone is focused on the fiscal cliff. if you get a mini deal you should expect about a 3% to 5% pop in the market. >> we'll see about that. what are you watching? tell me how you prepare tomorrow. >> we have keys in our economic recovery and those are housing and jobs. we will have numbers that address those issues. it is very difficult over the next couple of weeks we are likely to have elevated volatility. longer term we are more optimistic and we still believe investors should...
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>> eric: if we go over the fiscal cliff, people getting hurt the most, paid the most are the wealthy. >> kimberly: look, we talk about the jobs -- look, you want class warfare. >> greg: why is it good to punish people -- >> bob: break after break after break for republicans from 1986 on. time to pony up. >> greg: why? they pay most of the taxes. >> bob: so what? you don't care they contribute. you want them punished. >> greg: you're obama's soul. >> bob: they don't pay percentage of taxes on the money they earn versus what -- >> greg: 40%. reduce the government for eight days. that is preposterous. >> eric: is earning money a bad thing? >> dana: not if you ask for campaign contributions. practical point, gite on the sunday show said all the democrats support this. that is not true. the key democrats, landrieu, begich and north carolina -- i can't remember her name -- they are on all on record saying i don't think i'm for this. he has even a harder time convincing those on the democratic side to go with his plan. >> greg: one day explain why are you punishing the rich when you know it
>> eric: if we go over the fiscal cliff, people getting hurt the most, paid the most are the wealthy. >> kimberly: look, we talk about the jobs -- look, you want class warfare. >> greg: why is it good to punish people -- >> bob: break after break after break for republicans from 1986 on. time to pony up. >> greg: why? they pay most of the taxes. >> bob: so what? you don't care they contribute. you want them punished. >> greg: you're obama's soul....
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cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good ev
cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues...
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host: roger altman writes in "the financial times" -- "why the fiscal cliff will be averted." guest: there is something to what he says. there is nothing like a 1000 point drop in the stock market, and whether you think you are using it, or not, you are. jobs are tied up. people have investments without realizing it. i would agree with what he has to say, oh why do we have to wait? we are about one or two big deals away from reigniting economic growth in this country. i do not care what side of the political divide you are on, we are all better off when the economy is growing. if we could make a good deal, a smart deal that calls for compromise on each side, i think we could help the economy by showing the political system from cit at host: gerald rights -- how about getting rid of subsidies for farmers, corporations and big oil? guest: if you look to the republican farm bill, it gets rid of direct payments for farmers and it asks for reforms on the other side. food stamp use is up 47% or 40% in the middle of what is supposed to be a recovery -- 48% in what is supposed to be a
host: roger altman writes in "the financial times" -- "why the fiscal cliff will be averted." guest: there is something to what he says. there is nothing like a 1000 point drop in the stock market, and whether you think you are using it, or not, you are. jobs are tied up. people have investments without realizing it. i would agree with what he has to say, oh why do we have to wait? we are about one or two big deals away from reigniting economic growth in this country. i do...
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cliff. republicans and democrats in congress appeared no closer to a compromise. here's abc's tahman bradley. >> reporter: congressional republicans' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the president avoided questions about the gop plan. >> no deal better than a bad deal, sir? >> reporter: a senior white house official called the proposal a step backwards. saying if republicans do not agree to some higher tax rates for the wealthy, the nation will go over the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leavin
cliff. republicans and democrats in congress appeared no closer to a compromise. here's abc's tahman bradley. >> reporter: congressional republicans' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the...
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but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake tapper, abc new, the white house. >> that's scary, 11 days. fellows you sit up there until it gets wrapped up. quick synopsis, gop, $800 billion in revenue through tax reform on the table. that's not what the white house wants. they want tax rates to go up as oppose to revenue going up which would include closing some loopholes. kind of one of the sticking points. >> and speaker of the house john boehner sent a nice little hallmark card, a letter to the president. i want to read you an excerpt. he set the american people rightly expect both parties to come together on a fair middle ground and address the nation's most pressing challenges. the proposal calls for $1.
but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake tapper, abc new, the white house. >> that's scary, 11 days....
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that was a good solid meeting discussing the fiscal cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates could go down next year as far as tax reform. you talked with fiscal rates need to go up. what he campaigned on was the 39.6 at the end of the year. is that the case? >> so, let me say this, the president has been absolutely clear, as have i, that rates have to go up on top earners, on millionaires and billionaires, those making over $250,000. the president made that clear all yearlong and clear in the post-election period being engaged in conversations with congress about how to deal with the fiscal cliff, and our long term deficit challenges. we have yet to
that was a good solid meeting discussing the fiscal cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates...
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texas >>> today's guest host texas governor rick perry is here to talk about the fiscal cliff and business opportunities in the lone star state. >>> need a private jet? meet a disrupter who is changing the way corporate america travels. >>> plus, more of our exclusive interview with bank of america ceo brian moynihan. how difficult does it make it to be a banker in this market? >> what they've been trying to do is help the economy. >>> the second hour of "squawk box" begins right now. ♪ the stars at night are big and bright deep in the heart of texas ♪ ♪ the prairie sky is wide and high ♪ >>> welcome back, everybody. i'm becky quick along with joe kernen. andrew is off this week. we've are watching the futures and they are indicated slightly higher. the dow futures are up 14 points. they did end at the lows of the session yesterday down about 60 points for the dow. >>> this morning in some of our headlines the white house is rejecting a republican proposal to avoid that fiscal cliff. the ten-year $2.2 trillion plan keeps bush-era tax cuts in place for all taxpayers. the white house
texas >>> today's guest host texas governor rick perry is here to talk about the fiscal cliff and business opportunities in the lone star state. >>> need a private jet? meet a disrupter who is changing the way corporate america travels. >>> plus, more of our exclusive interview with bank of america ceo brian moynihan. how difficult does it make it to be a banker in this market? >> what they've been trying to do is help the economy. >>> the second hour...